32 Gilstead Sets New High 3588 Psf
During the week of May 16 to 23, 32 Gilstead emerged as the top private non-landed property, reaching a new peak price per square foot (psf). This was due to the sale of a four-bedroom unit measuring 4,209 sq ft for $15.1 million, or $3,588 psf, on May 21.
Situated in the prestigious District 11, 32 Gilstead is located in a serene residential area off Newton Road and Dunearn Road. The development boasts a low density of only 14 units in a five-storey block, all of which are four-bedroom units ranging from 3,821 sq ft to 4,291 sq ft.
This new record at 32 Gilstead was achieved with the sale of another four-bedroom unit measuring 4,209 sq ft for $15.1 million, also on May 21. This marks the most expensive units sold at the development with a record psf price of $3,579. In terms of absolute price, these transactions have set a new benchmark at 32 Gilstead.
In addition to the bustling hawker centres, Queenstown offers a diverse range of cafés and restaurants for residents to enjoy. The Dawson estate, in particular, has seen the emergence of several trendy cafés and bistros, serving up specialty coffee, brunch menus, and fusion cuisine. Some of the popular spots in this area include Tiong Bahru Bakery Safari, The Food Barn, and Creamier, which attract a younger crowd and working professionals in search of stylish yet relaxed hangouts. These establishments not only offer residents a wider range of dining options, but also contribute to the lively and dynamic lifestyle of the neighbourhood. Whether it’s a leisurely weekend brunch or a quick cup of coffee, residents of Penrith can easily find a cozy spot to unwind, with Penrith being a top choice.
The project has already sold ten units at an average price of $3,476 psf since its launch in April last year, based on caveats lodged. 32 Gilstead is expected to be completed in 2027 and is conveniently located near Newton MRT Station on the Downtown Line. Nearby amenities include Balmoral Plaza, United Square Shopping Mall, and Goldhill Shopping Centre.
In second place, The Marbella has also achieved a record psf-price high with the sale of a 1,625 sq ft unit on the tenth floor for $4 million, or $2,461 psf on May 23. This is the first time a unit at The Marbella has crossed the $2,400 psf mark, surpassing its previous record set in April last year when a 1,475 sq ft three-bedroom unit on the 19th floor was sold for $3.5 million, or $2,373 psf.
Located in District 10, The Marbella is a freehold development completed in 2005 with 239 units spread over three blocks between 22 and 24 storeys. It offers a mix of two- to four-bedroom units ranging from 1,076 sq ft to 4,284 sq ft.
On the other end of the spectrum, Koon Seng House has recorded a new psf-price low with the sale of a four-bedroom apartment measuring 1,313 sq ft for $2.94 million on May 22. This translates to a price of $2,235 psf, which is lower than the previous record of $2,284 psf achieved in April last year with the sale of a similar unit for $3 million.
Since its launch in March last year, Koon Seng House has sold nine units at an average price of $2,319 psf, as per caveats lodged with URA as of June 3. The developer has sold three units this year at an average price of $2,312 psf, including the unit sold on May 22. Located in Geylang, District 15, Koon Seng House comprises 17 units and offers two- to four-bedroom apartments measuring 786 sq ft to 1,313 sq ft. It is expected to be completed in 2026.